Platform wade in on BTL

Buy to Let mortgages will receive a boost due to extra funding announced by specialist buy to let mortgage lender Platform this month.

Platform is part of Co-Operative Bank, it’s specific role is to handle buy to let mortgage lending through mortgage brokers.

Platform advanced £450 million in 2011. As as indication of their confidence in the buy to let mortgage market they intend to increase lending by one third to £600 million in 2012. This is good news for buy to let investors as Platform are one of the leaders in this area of the mortgage market.

Rates from Platform tend to be competitive (buy to let rates start at 3.29% as of this morning), and underwriting criteria is also fairly well thought through. Features include free standard valuation on many products.

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